10 questions need in one hour/ business policy and strategy

Evaluate the accuracy of the following statement: Formal strategic planning systems are irrelevant for firms competing in high-technology industries where the pace of change is so rapid that plans are routinely made obsolete by unforeseen events.

QUESTION 2

Is it possible for a company to be the lowest cost producer in its industry and simultaneously have an output that is most valued by customers?

QUESTION 3

What do you think are the sources of sustained superior profitability?

QUESTION 4

Which is more important in explaining the success and failure of companies: strategizing or luck?

QUESTION 5

Under what environmental conditions are price wars most likely to occur in an industry? What are the implications of price wars for a company? How should a company try to deal with the threat of a price war?

QUESTION 6

What are the strengths of formal strategic planning? What are its weaknesses?

QUESTION 7

From what perspective might innovation be called the single most important building block of competitive advantage?

QUESTION 8

When is a company’s competitive advantage most likely to endure over time?

QUESTION 9

Why is it important to understand the drivers of profitability, as measured by the return on invested capital?

QUESTION 10

What role can top management play in helping a company achieve superior efficiency, quality, innovation, and responsiveness to customers?